New Delhi, June 18 -- Iran's Ambassador to India, Mohammad Fathali, on Thursday asserted his nation's commitment to uphold the new peace deal with the US, while emphasising that its long-term success hinges on "mutual respect" and adherence to obligations.

This comes hours after US President Donald Trump and Iranian President Masoud Pezeshkian virtually signed the 14-point memorandum aimed at ending hostilities between the two countries, reopening the Strait of Hormuz and launching a 60-day process to negotiate a comprehensive final agreement.

Speaking with ANI, Ambassador Fathali characterised the agreement as a potentially transformative moment for global stability. "We believe that the current agreement has the potential to become a ...